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NEWS ABOUT: gas prices

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As Gas Prices Climb, So Do Gas Thefts

Tricky maneuvers help slake thirst for fuel

(Newser) - With gas prices soaring above $4 a gallon, gas thefts are up across the country, and thieves are devising ever-more-creative means of snatching the stuff, Newsweek reports. Some manage to keep the gas flowing after paying for only a few gallons; others siphon fuel from unsuspecting drivers’ SUVs. Some even... More »

Shell Strike Threatens UK Motorists

Government's urging not to panic-buy gas falls on deaf ears

(Newser) - Truck drivers for Shell have begun a four-day strike in Britain that threatens to hike already sky-high gas prices. Although the government has warned motorists not to panic-buy, gas stations were reporting a 30% spike in sales in the hours before the action; union leaders, meanwhile, have threatened that gasoline... More »

Exxon to Sell US Gas Stations

But private distributors will continue to use the company's name, products

(AP) - Exxon Mobil is getting out of the retail gasoline business, following other major oil companies who've been selling their low-margin stations to gasoline distributors. The world's biggest publicly traded oil company plans to sell to distributors its remaining 820 company-owned stations and another 1,400 outlets operated by dealers. The... More »

Waiting for Green Has Gas-Conscious Seeing Red

Needless idling in turn lanes irks Calif. drivers

(Newser) - Though their safety value in heavy traffic isn't disputed, some Californians are starting to see left-turn arrows as a drag on ever-pricier gas and an avoidable threat to the environment, the Riverside Press-Enterprise reports. The California Energy Commission estimates that idling for 2 minutes (often a needless waste of time,... More »

Airlines Become Weight Watchers to Save Fuel

As fuel prices continue to rise, airlines are getting creative in seeking fuel savings

(Newser) - Airlines struggling with soaring fuel expenses are seeking new ways to save, and none is too small, from cutting the amount of water they carry for washrooms to cleaning engines more often to increase their efficiency, reports the New York Times. Some are pulling back on their cruising speed—from... More »

McCain Pays Price of Soaring Gas

Voters giving issue ever-more importance; holding Mac responsible for Bush

(Newser) - The party in power always suffers during an election year in which the economy is poor, and high gas prices are often the biggest barb. John McCain is suffering the most from high prices at the pump, a Politico analysis of Gallup polls show, with voters putting him behind the... More »

Gas Rising, Station Owners Barrel Toward Bankruptcy

Fuel hits $4.41 a gallon in Los Angeles, and retailers aren't seeing the profit

(Newser) - Stiff fuel prices are not pouring cash into the pockets of California gas station owners—instead, they're driving them into bankruptcy. Credit card fees, tanker-load costs, and other rapidly increasing expenses are putting the crunch on retailers, reports the Los Angeles Times. More »

Fuel Prices Drive Spanish Truckers to Protest

Strike idles tens of thousands of vehicles

(Newser) - Spanish truck drivers went on strike at midnight to protest skyrocketing fuel prices, erecting blockades across the country and snarling traffic on the border with France, the EiTB network reports. Drivers who attempted to continue operating found their tires slashed, windshields smashed and headlights destroyed. Fuel prices in Spain have... More »

Analysts Say Oil Price Drop Is Long Way Off

Declining Asian demand could bring relief ... by early '09

(Newser) - A reining-in of Asia’s demand for oil could help the global crude supply rebound, eventually dropping prices sharply, analysts tell Reuters. But the price relief likely won’t show up until the end of this year or early next, as data needed to help traders set prices is slow... More »

Gas Prices Hit Hardest in Rural Areas—not Suburbs

The South, Southwest, and upper Great Plains feel brunt of $4 fuel

(Newser) - Gas prices, which hit an all-time-high average of $4 a gallon over the weekend, are causing more pain in rural America than anywhere else, with motorists in the South, Southwest, and the upper Great Plains the hardest hit. With relatively low wages and high use of pickup trucks and vans,... More »

Gas Tops $4 per Gallon After Stable Week

Prices had stabilized—until last week

(Newser) - Americans are paying more than $4 a gallon for gas for the first time, Reuters reports. The national average reached $4.005 per gallon today, up from $3.67 last month and $3.10 last year. Prices had stabilized last week, until crude oil futures jumped to record levels. In... More »

US Economy Isn't Bouncing Back

Fed cuts, stimulus package won't do the trick

(Newser) - Forget those predictions of a US economic revival in 2008, Daniel Gross writes in Newsweek. The four horsemen of the economy—credit and housing crises, food and energy prices—are getting meaner, while booming commodities and crunching credit are curbing attempts to fight back. "As a result, the consumer-driven... More »

Blip or Deeper Trouble? More Economists Grow Gloomy

Analysts speculate if gloomy figures have sparked fundamental change

(Newser) - Optimists can easily chalk up Friday's disastrous day on Wall Street to a skittish market overreacting to lousy news about oil prices and unemployment. The problem, writes Ben Steverman in BusinessWeek, is that many analysts are lining up in the pessimists' camp, which holds that something more "fundamental" is... More »

As Gas Prices Rise, Field Trips Go Virtual

Online outings 'can be the next best thing,' educator says

(Newser) - More school buses are being left in park these days, thanks to rising fuel prices and technology that lets students go on “virtual field trips.” “If you can’t go somewhere, this can be the next best thing,” said one administrator, as schools enjoy low teleconferencing... More »

Diesel Thieves Plague Farmers

Irrigation systems are also caches of diesel fuel

(Newser) - With oil prices stuck in triple digits, any form of gas is becoming precious booty for thieves, CNN reports. The latest targets: farmers running diesel-fueled irrigation pumps. Fuel tanks, often sitting unguarded in fields, can be a quick score of around 250 gallons in the middle of the night. In... More »

Continental Hacks 3K Jobs, 16% of Flights

Carrier is the latest to scale back operations citing fuel costs

(Newser) - Continental Airlines today became the latest US carrier to slash its workforce and trim flights in the face of profit-busting fuel costs and an industry-wide slowdown, the Wall Street Journal reports today. The airline will cut its workforce by 3,000 jobs, scale back US departures by 16%, and aggressively... More »

Airlines Mull Weighing Passengers

Budget-eating fuel costs have execs thinking 'exotically'

(Newser) - Desperate airliners are doing everything to cut fuel costs, scaling back on water and snacks—and adding a fee for overweight passengers could be next, analysts tell Bloomberg. "Nothing is beyond their imagination," one says of CEOs. "They have already begun to think exotically." Fuel costs,... More »

Storm Warning: Hurricanes May Drive Gas to $6

Disruptive Atlantic season could upset already dicey market

(Newser) - This year’s hurricane season—which started yesterday—could spawn a dozen or more named storms, potentially disrupting flow of gasoline across the nation and pushing gas prices beyond $5 or even $6 a gallon, reports CNNMoney. Traders already appear to be including a hurricane premium of 10 cents per... More »

Drivers Pump Less, Run Out of Gas More

Philly AAA calls double as drivers run out of gas

(Newser) - Strapped-for-cash drivers hit by rocketing gas prices are putting less in their tanks and gambling on having enough to last the week—but many don't make it. Calls to AAA for help from out-of-gas drivers in Philadelphia have doubled since prices began to spiral, AP reports. More »

Rebate Checks Go to Gas, Food, Looming Debt

Extravagant spending sprees at the mall? Not so much

(Newser) - Rather than the gluttonous splurge on flat-screen TVs and foreign vacations that Uncle Sam had envisioned, most Americans are plunking their rebate checks down on exorbitant gas and food costs--and their mounting debt. “The initial sense is that people are not running out the malls,” one economist told... More »

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